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Genesis Block

The genesis block refers to the Bitcoin blockchain‘s first ever mined block, which took place on January 3, 2009. The block contains the following text, which was the headline from the British newspaper The Financial Times on January 3, 2009:

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

The inclusion of this text speaks volumes about Bitcoin and its purpose: to circumvent the calamity of bank bailouts and reduce the power of central banks in general.